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Both deals still need workers to accept the agreements, which have been recommended by the respective unions.

Pacific Fuel Haul, part of TIL Logistics, is the biggest mover of petrol, diesel, LPG, crude oil and condensate, operating 200 tankers and 400 dangerous goods vehicles. It said it was pleased to avoid disruption to fuel supplies ahead of Christmas.

"We are conscious that this has been a stressful time for all involved including our drivers, other staff and our customers, and we are happy that we have been able to reach a resolution before Christmas."

The Air New Zealand claim threatened to disrupt 120,000 travellers in the three days before Christmas, triggering accusations by opposition MPs that the Labour-led coalition government had emboldened unions to take more aggressive industrial action.

So far this year, 7,588 employees are reported to have gone on strike, Work Relations Minister Iain Lees-Galloway said in Parliament yesterday, citing Ministry of Business, Innovation and Employment data.

The E tū and the Aviation and Marine Engineers Association members were seeking increased pay and resisting cuts to work conditions. The details of the offer won't be made public until they're put to members.

"Industrial action of this nature is always a last resort and so it's a positive sign that we've reached an agreement in principle," E tū said in a statement.

Air New Zealand shares rose 0.7 per cent to $3 at the NZX open while the tightly-held TIL Logistics was down 1.3 per cent at $1.48.